What do you do when your tablet based periodical needs nearly 700,000 subscribers to break even financially, but you’ve only gotten about 100,000 subscribers after almost 2 years in business? Well, if you’re as wise as News Corp, you shut it down.
When The Daily was first introduced in the video above, it was solely for the Apple iPad. Down the road, News Corp. obviously saw that such an exclusive move was not to its benefit and later came versions of The Daily for the iPhone, Android and Kindle. The pricing structure confused a bit of people because Apple iPad, readers could get the publication for 99 cents a week, whereas iPhone and Kindle users could get it for about ½ that cost.
It matters not either way now, according to an ENP Newsire report, “As part of a digital restructuring initiative, the company will cease standalone publication of The Daily iPad app on December 15, 2012, though the brand will live on in other channels. Technology and other assets from The Daily, including some staff, will be folded into The [New York] Post.”
CEO Rupert Murdoch had the following to say about The Daily. “From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation. Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term. Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties. [...] I know The New York Post will continue to grow and become stronger on the web, on mobile, and not least, the paper itself.”
For News Corp.,The Daily can be summed up to have been a subscriber based, tablet news project that could set standards for the company and their future digital publications, as such though, it has set no such digital publication standard for News Corp at all. Even Rupert Murdoch himself referred to it as a “bold experiment”, and it seems as though they just couldn’t lure enough minds to buy into their bold program.
Of course there are some electronic publications that are able to survive the subscriber based model. Especially those that provide hard to find information and give an “insiders” perspective. In today’s age where information travels extremely fast around the globe (and usually free), pushing a subscription based service like The Daily was a hard sell though. Especially with such an abundance of general opinionated information easily available on the Internet.
The New York Post is also owned by News Corp. and it is said that “Jesse Angelo, the founding Editor-in-Chief of The Daily and long-time Executive Editor of The New York Post, will assume the role of Publisher of The New York Post.”